Coal India receives Cabinet approval for 21,000 crore in thermal power investments.

The state-run Coal India received approval from the Union Cabinet on Thursday to make significant investments in the thermal power industry. Among these is the coal miner’s establishment of two thermal power plants, which will require a total of over Rs 21,000 crore in investments.

The investments made by Coal India subsidiaries are divided up as follows: South Eastern Coalfields Ltd. is investing Rs. 823 crore to establish a 1×660 MW supercritical thermal power plant with Madhya Pradesh Power Generating Co Ltd.

Mahanadi Basin Powe Ltd (MBPL – a subsidiary of MCL) will establish a 2×800 MW thermal plant for Mahanadi Coalfields Ltd. SECL has estimated that the Amarkantak thermal power facility in Madhya Pradesh will cost approximately Rs. 5,600 crore.

However, out of the estimated total project capital expenditure of Rs 15,947 crore, MCL plans to invest Rs 4,784 crore in its facility in Odisha. In the joint venture between SECL-MPPGCL and MBPL, the Cabinet also approved CIL’s equity participation exceeding 30% of its net worth.

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